Laura Scher Archives


Dhaka, March 23 (bdnews24.com) — Grameen Bank’s Muhammad Yunus stunned the world by unveiling a poverty alleviation initiative using mobile phone on March 26, 1997. He buys bulk minutes from Grameenphone’s GSM mobile network and resells among the microcredit borrowers in Bangladesh. The industry now recognises such business model as Mobile Virtual Network Operator or MVNO. Yunus and Grameen shared the Nobel Peace Price in 2006.